Friday, July 27, 2007

Apollo completes acquisition of Jacuzzi Brands

The private equity company Apollo Management LLP has completed the acquisition of Jacuzzi Brands Inc., which is responsible for the Jacuzzi, Sundance, Zurn and Astracast brand names. Alex P. Marini, the chief executive officer of Jacuzzi Brands, will continue to manage Jacuzzi Bath and Zurn Industries, while George M. Sherman, co-investor with Apollo, has become the non-executive chairman of Jacuzzi Bath.

Mr Marini said: We are confident that as a private company, and with George Shermans vast industry experience, Jacuzzi Brands will be better positioned to operate in the highly competitive and capital-intensive global bath and plumbing industries.

Larry Burn, a senior partner at Apollo, commented: We are pleased to have completed the acquisition of Jacuzzi Brands. We look forward to working with George Sherman, the Zurn and Jacuzzi management teams and their dedicated employees to continue providing high-quality products and services.

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